Legal Question in Business Law in Florida

Partner opened a new checking and is diverting funds

I am 50% owner of a LLC. We opened a second office in MA. and I am up here running this division.

It has recently come to my attention that my partner has opened a new company droping the middle portion of our name and opened a new checking account and is depositing money into that account and telling me that there is no money. I am not sure what my options are and if I need an attorney. He does not know that I am aware of this. He has also defaulted on bills from the orginal company. I find out more and more each day. I also belive he may have taken out lines of credit in my name without my knowledge.


Asked on 10/04/07, 9:22 am

5 Answers from Attorneys
Warren Wood Law Offices of Warren Wood

Re: Partner opened a new checking and is diverting funds

In MA a partner has a fiduciary obligation to all partners. This includes honestry, openess, and fair dealing.

We handle fiduciary and LLC litigation. His defaults may be your responsibility.

The Law Office of Warren E. Wood

Email: [email protected]

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Answered on 10/04/07, 9:50 am
Michael Stewart Michael D. Stewart

Re: Partner opened a new checking and is diverting funds

You seem to have a case against him in Florida, if this is where he is.

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Answered on 10/04/07, 10:00 am

Re: Partner opened a new checking and is diverting funds

You need an attorney. Your partner has breached his fiduciary duty to you and the company by engaging in a competitive business without your consent. In MA we have MGL C. 93A commonly referred to as 93A which prohibits deceptive business practices and as such your partner has appeared to have breached it.

I would be happy to meet you without obligation to discuss your options. My firm is a major litigation firm.

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Answered on 10/04/07, 10:10 am
Jared Beck Beck & Lee Business Trial Lawyers

Re: Partner opened a new checking and is diverting funds

Any claims which you may have against your partner may need to be brought in Florida, if he is located there and the relevant events occurred in Florida.

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Answered on 10/04/07, 11:20 am
Johm Smith tom's

Re: Partner opened a new checking and is diverting funds

You need an attorney to help you with this asap before this person destroys your repuation and credit!

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Answered on 10/04/07, 11:49 am


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